No only the engine. The rest of the lotus is a mish-mash of company parts bins; Citroen AX wiper motor, Corsa steering column, Metro wheel bearings, Astra (from the late '80s) door locks, etc.
A stripped out MGF would probably be pretty good fun, but I'd say it would be in the same league as an MX5... but an MX5 would be better imho.